Press Esc to close
Wednesday 24 August 2016
News updated at 11:24 PM IST
Weather
Max: 30.6°C
Min : 20.9°C
In Bengaluru
Sunny day

Japan to give fresh infra loan of $2.26 bn to India

Phnom Penh, Nov 20 (PTI)
In this photograph received from the Press Information Bureau (PIB) on November 20, 2012 Indian Prime Minister Manmohan Singh (L) shakes hands with Japanese Prime Minister Yoshihiko Noda at a bilateral meeting on the side lines of the 10th ASEAN-India Summit in Phnom Penh. AFP PHOTO/PIB/M ASOKAN ----EDITORS NOTE---- RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT 'AFP PHOTO

Japan will give a fresh loan of about USD 22.6 billion for the second phase of Dedicated Freight Corridor and an infrastructure project in South India, Prime Minister Yoshihiko Noda today told his Indian counterpart Manmohan Singh as they met here, making up for an opportunity lost a few days ago.

Singh, while welcoming the announcement of loan, emphasised to Noda that India's priority was investments by Japanese companies in infrastructure projects like Delhi Metro Rail, which was a "fine example" other cities want to emulate.


The two leaders were to meet in Tokyo on November 16 during Singh’s scheduled three-day visit beginning November 15 for annual Summit. However, the visit was cancelled just a day ahead in view of sudden political developments in Japan with Noda deciding to announce elections.

During the meeting today on the sidelines of East Asia Summit, Noda expressed happiness at being able to meet Singh to underline the close Strategic and Global Partnership between the two countries, sources said.

He told Singh that he wanted to discuss the next steps in the relationship since they could not meet in Tokyo for the Annual Summit due to domestic developments in Japan, they said.

Noda informed Singh that Japan will be announcing the second round of loans under Overseas Development Assistance (ODA) for the second phase of the Dedicated Freight Corridor and a third infrastructural project in South India, where Japanese companies have a good presence, the sources said.

The fresh loan amount is expected to be 184 billion yen, approximately USD 22 billion.

The Japanese Prime Minister also mentioned Japanese interest in continuing the consultation on the high-speed railways.

Both the Prime Ministers expressed happiness on the signing of the MoU on Rare Earths and the Agreement on Social Security signed on November 16 in Tokyo.


Go to Top

Photo Gallery
A view of lighting at Sri Krishna Janamsthan temple during Sri Krishna Janmashtami festiva...

A view of lighting at Sri Krishna Janamsthan temple during Sri Krishna Janmashtami festiva...

Muslim women carrying their children dressed up as Lord Krishna and Radha for a program...

Muslim women carrying their children dressed up as Lord Krishna and Radha for a program...

Bollywood actress Sonakshi Sinha at a press conference to promote her upcoming film in Jaipur...

Bollywood actress Sonakshi Sinha at a press conference to promote her upcoming film in Jaipur...

A view of submerged temples in the flood waters of River Yamuna in Allahabad...

A view of submerged temples in the flood waters of River Yamuna in Allahabad...

Nuns distribute relief material to flood hit peoples at a camp in Allahabad...

Nuns distribute relief material to flood hit peoples at a camp in Allahabad...

A sand art of Lord Krishna made by Sand Artist Sudarshan Patnaik ahead of Krishna Janmashtami...

A sand art of Lord Krishna made by Sand Artist Sudarshan Patnaik ahead of Krishna Janmashtami...

A child dresses as lord Krishna for a school function ahead of Janmashtami, in Bikaner...

A child dresses as lord Krishna for a school function ahead of Janmashtami, in Bikaner...

The launch of Entrepreneurship Summit at IT Decode Park in Hyderabad...

The launch of Entrepreneurship Summit at IT Decode Park in Hyderabad...

Horses undergoing exercise and training by handlers at Race Course in Bengaluru...

Horses undergoing exercise and training by handlers at Race Course in Bengaluru...

A child plays in front of idols of Lord Ganesha ahead of Ganesh festival ...

A child plays in front of idols of Lord Ganesha ahead of Ganesh festival ...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523